What happens if my solicitor is suspended from the UBS Conveyancing panel ahead of completing my conveyancing in Locks Heath?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How does conveyancing in Locks Heath differ for newly converted properties?
Most buyers of new build property in Locks Heath come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because new home sellers in Locks Heath tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Locks Heath or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Locks Heath I like with open areas and railway links nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Locks Heath in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years will likely be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I have been advised by a number of selling agents in Locks Heath to get a quote from a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to promote your lawyers ahead of a competitor’s?
We don’t offer any commission for directing people to this site. We found it would be just too difficult a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I need to retain a conveyancing solicitor for sale conveyancing in Locks Heath. I happened to land on a site which looks to be the perfect solution If there is a chance to get all formalities done via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I note that you have a search directory identifying firms on the bank conveyancing panel. Do Locks Heath conveyancing companies pay you a referral fee if I retain them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Locks Heath.